%0 Thesis
%9 Master
%A Welboren, Olaf
%D 2024
%F theses_frw:4798
%P 57
%T PROXIMITY TO SEISMIC ACTIVITY AND ITS EFFECT ON PROPERTY VALUES: A CASE STUDY OF VANCOUVER, BC
%U https://frw.studenttheses.ub.rug.nl/4798/
%X This thesis investigates the impact of seismic activity on property values in Vancouver, a city on the   coast of the Pacific Northwest, characterized by both high earthquake risks and an expensive real estate   market. Previous research on the topic suggests a negative effect of earthquake activity and risk   awareness in the region on property values, although in some areas this effect can be negligible when   risk is disclosed at the time of purchase of a property. Utilizing a Fixed Effects Linear Regression model   and Panel data, this study investigates whether the proximity to earthquakes significantly influences   property values. The results of this study show a significant effect of earthquake distance to Vancouver   property prices between 2013 and 2023. As distance to an earthquake increases, so does the property   value. This effect is in line with the theory, however, the effect measured with the available data and the   model used is minimal. This impact may, on the one hand, be negligible because the population is   unaware of the risks, or, the earthquake risk may not be priced into the real estate values because the   risk is not large enough.